THE EXCHANGEABILITY OF HEDONIC PROPERTY PRICE STUDIES*

1992 ◽  
Vol 32 (2) ◽  
pp. 169-183 ◽  
Author(s):  
Scott E. Atkinson ◽  
Thomas D. Crocker
Keyword(s):  
Property Price ◽  
Hedonic Property

Assessing Impact of Freshwater Lake Ecosystem on Residential Property Prices using Hedonic Property Pricing approach: Evidence from Vellayanilake of Kerala

2020 ◽  
pp. 125-130
Keyword(s):  
Economic Effect ◽  
Lake Ecosystem ◽  
Aesthetic Value ◽  
Market Prices ◽  
Scenic Beauty ◽  
Property Prices ◽  
Property Price ◽  
Valuation Technique ◽  
Hedonic Property ◽  
The Impact

ABSTRACT The ecosystem services provided by wetlands can be direct or indirect. The direct services can be mostly valued through market prices, but the indirect service like aesthetic beauty and its impact on property prices surrounding the natural resource cannot be directly measured. To single out the economic effect of particular amenity which influenced the land property prices, the advanced valuation technique Hedonic property pricing was most popularly used. In this study, it was attempted to assess using the hedonic property pricing technique, the impact of the presence of the freshwater body, the Vellayani Lake on land property prices surrounding it. The results revealed that the marginal implicit price of getting one cent of land with lake view evaluated at mean property price of Rs. 2,44250 was Rs.79171. The total aesthetic value of land with the scenic beauty of the lake was Rs. 275.92 crores.

scholarly journals Evidence on the Amenity Value of Wetlands in a Rural Setting

2005 ◽  
Vol 37 (3) ◽  
pp. 589-602 ◽  
Author(s):  
Okmyung Bin ◽  
Stephen Polasky
Keyword(s):  
Urban Areas ◽  
Property Values ◽  
Rural Setting ◽  
Residential Property ◽  
Amenity Value ◽  
Property Price ◽  
Extensive Property ◽  
Hedonic Property ◽  
Wetland Inventory ◽  
Residential Property Values

This study uses a hedonic property price method to estimate how wetlands affect residential property values in a rural area. The study utilizes wetland inventory data coupled with extensive property sales records between January 2000 and September 2004 from Carteret County, NC. Our results indicate that i) a higher wetland percentage within a quarter mile of a property, ii) closer proximity to the nearest wetland, and iii) larger size of the nearest wetland are associated with lower residential property values. These results contrast with previous hedonic studies that use data from urban areas, which found positive associations between wetlands and property values. The amenity value of wetlands appears to depend at least as much on the characteristics of the area being considered as it does on the characteristics of the wetlands.

scholarly journals Spatial Variability of the ‘Airbnb Effect’: A Spatially Explicit Analysis of Airbnb's impact on Housing Prices in Sydney

2021 ◽  
Author(s):  
William Thackway ◽  
Matthew Kok Ming Ng ◽  
Chyi Lin Lee ◽  
Vivien Shi ◽  
Christopher Pettit
Keyword(s):  
Housing Market ◽  
Housing Prices ◽  
Property Valuation ◽  
Valuation Model ◽  
Price Impacts ◽  
Property Price ◽  
Explicit Analysis ◽  
Hedonic Property ◽  
The Impact ◽  
The City

Over the last decade, the emergence and significant growth of home sharing platforms such as Airbnb has coincided with rising housing unaffordability in many global cities. It is in this context that we look to empirically assess the impact of Airbnb on housing prices in Sydney - one of the least affordable cities in the world. Employing a hedonic property valuation model, our results indicate that Airbnb’s overall effect is positive. A 1% increase in Airbnb density is associated with approximately a 2% increase in property sales price. However, recognising that Airbnb’s effect is geographically uneven and given the fragmented nature of Sydney’s housing market, we also employ a GWR to account for the spatial variation in Airbnb activity. The findings confirm that Airbnb’s influence on housing prices is varied across the city. Sydney’s northern beaches and parts of western Sydney experience a statistically significant value uplift attributable to Airbnb activity. However, traditional tourist locations focused around Sydney’s CBD and the eastern suburbs experience insignificant or negative property price impacts. The results highlight the need for policymakers to consider local Airbnb and housing market contexts when deciding the appropriate level and design of Airbnb regulation.

scholarly journals Spatial Variability of the ‘Airbnb Effect’: A Spatially Explicit Analysis of Airbnb’s Impact on Housing Prices in Sydney

2022 ◽  
Vol 11 (1) ◽  
pp. 65
Author(s):  
William Thomas Thackway ◽  
Matthew Kok Ming Ng ◽  
Chyi-Lin Lee ◽  
Vivien Shi ◽  
Christopher James Pettit
Keyword(s):  
Housing Market ◽  
Housing Prices ◽  
Property Valuation ◽  
Valuation Model ◽  
Price Impacts ◽  
Property Price ◽  
Explicit Analysis ◽  
Hedonic Property ◽  
The Impact ◽  
The City

Over the last decade, the emergence and significant growth of home-sharing platforms, such as Airbnb, has coincided with rising housing unaffordability in many global cities. It is in this context that we look to empirically assess the impact of Airbnb on housing prices in Sydney—one of the least affordable cities in the world. Employing a hedonic property valuation model, our results indicate that Airbnb’s overall effect is positive. A 1% increase in Airbnb density is associated with approximately a 2% increase in property sales price. However, recognizing that Airbnb’s effect is geographically uneven and given the fragmented nature of Sydney’s housing market, we also employ a GWR to account for the spatial variation in Airbnb activity. The findings confirm that Airbnb’s influence on housing prices is varied across the city. Sydney’s northern beaches and parts of western Sydney experience a statistically significant value uplift attributable to Airbnb activity. However, traditional tourist locations focused around Sydney’s CBD and the eastern suburbs experience insignificant or negative property price impacts. The results highlight the need for policymakers to consider local Airbnb and housing market contexts when deciding the appropriate level and design of Airbnb regulation.

Benefits from Reduced Air Pollution in Delhi and Kolkata: A Hedonic Property Price Approach

2012 ◽  
pp. 380-411 ◽  
Author(s):  
M.N. Murty ◽  
S.C. Gulati ◽  
Avishek Banerjee ◽  
A. K. Enamul Haque ◽  
M. N. Murty ◽  
...  
Keyword(s):  
Air Pollution ◽  
Property Price ◽  
Hedonic Property ◽  
Price Approach

scholarly journals Valuing Environmental Assets on Rural Lifestyle Properties

2013 ◽  
Vol 42 (1) ◽  
pp. 159-175 ◽  
Author(s):  
Maksym Polyakov ◽  
David J. Pannell ◽  
Ram Pandit ◽  
Sorada Tapsuwan ◽  
Geoff Park
Keyword(s):  
Ecosystem Services ◽  
Native Vegetation ◽  
Price Model ◽  
Rural Landscapes ◽  
Ecological Characteristics ◽  
Median Proportion ◽  
Property Price ◽  
Hedonic Property

Lifestyle landowners value land for its amenities and ecological characteristics and could play an important role in managing and conserving native vegetation in multifunctional rural landscapes. We quantify values of ecosystem services captured by owners of rural lifestyle properties in Victoria, Australia, using a spatial hedonic property price model. The value of ecosystem services provided by native vegetation is maximized when that vegetation occupies about 40 percent of the area of a lifestyle property. Since the current median proportion of native vegetation is 15 percent, most lifestyle landowners could benefit from increasing the area of native vegetation on their properties.

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